top of page

Meliá Hotels International: First Half Results 2024

Writer's picture: EDITOREDITOR


Gabriel Escarrer, Chairman & CEO at Meliá Hotels International

“Meliá's results continue to reflect the positive evolution of the tourism sector in the first six months of the year, in which the group has been able to capitalise on the continued strength of travel demand thanks to the strategy deployed by the company in recent years, now reaping the rewards of its firm commitment to digitalisation, international expansion and the renovation and repositioning of its assets, with a strong focus on premium and luxury products.


In operational terms, we can speak of a positive first half of the year, marked by the full recovery of both the leisure, business and corporate customer occupancy levels prior to the pandemic, a trend which, combined with the strength of the rates, allowed us to record a double-digit RevPAR increase (+13.2%), which extends the outstanding performance (+15.6%) recorded in the first quarter of the year. Consolidated revenues also confirmed this positive trend, amounting to €960.1 Mn up to July, + 5.5% year-on-year; taken in stand-alone, Q2 revenues of €520Mn also maintained the upward curve, and, had they not been affected by some extraordinary factors that impacted 2023, the increase compared to the same quarter of the previous year would have been +9.1%, whilst at the half-year level, the growth would have been +11.7%.


Our Company maintains its priority and commitment to its shareholders to continue strengthening the Balance Sheet, and I would therefore like to specially highlight the progress made in reducing the net financial debt by -€271.6Mn,  to reach €892.1Mn, which allow us to feel comfortable with our objective of ending 2024 with a Net Financial Debt/EBITDA ratio below 2.5x.

The first half of the year thus further strengthens our confidence, not only in the favourable business forecasts for this summer - which to date look even better than 2023 in terms of occupancy and rates - but also in the fact that we can comfortably meet the commitments expressed for the end of the year at our last General Meeting, both in terms of EBITDA, RevPAR, qualitative expansion and strengthening of our balance sheet. 

 

Link direct to source:


The Team

at LEADING HOTELIERS NETWORK / JOB LEAD SERVICE


JOIN US TODAY! We're still accepting a few more members - Use direct link here


0 comments

Recent Posts

See All

Comments


bottom of page